Analysts predict that Rite Aid Co. (NYSE:RAD) will post earnings per share (EPS) of ($0.01) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Rite Aid’s earnings, with estimates ranging from ($0.02) to ($0.01). The business is expected to report its next quarterly earnings report on Wednesday, January 2nd.

On average, analysts expect that Rite Aid will report full year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.02) to $0.00. For the next fiscal year, analysts anticipate that the business will report earnings of $0.01 per share, with EPS estimates ranging from ($0.01) to $0.03. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Rite Aid.

Rite Aid (NYSE:RAD) last posted its quarterly earnings data on Thursday, September 27th. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.36 billion. Rite Aid had a negative return on equity of 1.97% and a net margin of 3.26%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS.

RAD has been the subject of a number of analyst reports. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. Goldman Sachs Group initiated coverage on Rite Aid in a research note on Thursday, September 6th. They set a “sell” rating and a $1.00 target price for the company. Cowen downgraded Rite Aid from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $2.35 to $6.00 in a research note on Monday, August 13th. Mizuho reissued a “hold” rating and set a $2.00 target price on shares of Rite Aid in a research note on Thursday, August 9th. Finally, TheStreet downgraded Rite Aid from a “c-” rating to a “d” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $2.16.

Several hedge funds have recently modified their holdings of RAD. Schwab Charles Investment Management Inc. raised its stake in shares of Rite Aid by 14.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 4,511,417 shares of the company’s stock worth $7,580,000 after buying an additional 575,281 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Rite Aid by 132.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 148,633 shares of the company’s stock worth $250,000 after buying an additional 84,769 shares in the last quarter. Northern Trust Corp raised its stake in shares of Rite Aid by 4.7% during the 1st quarter. Northern Trust Corp now owns 5,408,399 shares of the company’s stock worth $9,086,000 after buying an additional 240,856 shares in the last quarter. BlackRock Inc. increased its stake in Rite Aid by 1.9% in the 1st quarter. BlackRock Inc. now owns 43,767,426 shares of the company’s stock valued at $73,529,000 after purchasing an additional 813,790 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Rite Aid by 16.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,781,111 shares of the company’s stock valued at $4,673,000 after purchasing an additional 385,785 shares in the last quarter. 55.58% of the stock is owned by institutional investors and hedge funds.

RAD opened at $1.11 on Thursday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -55.50 and a beta of 1.66. Rite Aid has a 52 week low of $1.11 and a 52 week high of $2.55. The company has a quick ratio of 0.94, a current ratio of 1.62 and a debt-to-equity ratio of 2.41.

About Rite Aid

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

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